IREDA Share Price in Focus After Yesterday's Decline; Technical Levels for Traders
IREDA share price declined on Tuesday with the stock closing below Rs 170. IREDA touched intraday low at Rs 169.16 and close near the day's low. The stock could see higher volume in today's session as well. Bulls have to cross Rs 185 levels decisively for IREDA to remain in the bullish territory. TopNews Team has reviewed technical levels for traders.
Performance Snapshot: Valuation, Volatility, and Investor Mood
| Metric | Value |
|---|---|
| Current Price | Rs 175.50 |
| 52-Week High | Rs 310.00 |
| 52-Week Low | Rs 137.01 |
| Market Cap | Rs 45,560 Cr |
| P/E Ratio | 26.85 |
| Dividend Yield | - |
Recent analyst sentiment is mixed but leaning bullish. According to a May 2025 note by Kotak Institutional Equities, IREDA remains a “BUY” with a 12-month target of Rs 225, driven by continued growth in project disbursements and a strong clean energy loan pipeline.
Candlestick Insights: Daily Charts Show a Spinning Top Near Support
IREDA’s daily candlestick pattern has recently formed a Spinning Top near the Rs 170–172 zone, often interpreted as a signal of indecision or a potential reversal. The recent candles show:
Low upper and lower shadows, indicating shrinking volatility.
Consolidation around the 175 mark, which has acted as a make-or-break zone in the last 5 trading sessions.
Implication: A close above Rs 178 on volume could signal a short-term breakout, while a dip below Rs 169 may drag the stock toward Rs 160.
Fibonacci Levels: Charting the Bounce-Back Potential
Based on the 52-week high of Rs 310 and low of Rs 137.01, the Fibonacci retracement levels offer compelling technical zones:
| Fibonacci Level | Price |
|---|---|
| 23.6% | Rs 176.96 |
| 38.2% | Rs 200.34 |
| 50% | Rs 223.50 |
| 61.8% | Rs 246.66 |
| 78.6% | Rs 276.44 |
The stock is hovering around the 23.6% retracement level, and a close above this can ignite a medium-term rally toward Rs 200–223.
Support and Resistance Zones: Identifying Tactical Triggers
IREDA's recent trading behavior highlights a clear range of accumulation and exit zones:
Immediate Support: Rs 169
Secondary Support: Rs 160
Immediate Resistance: Rs 178
Major Resistance: Rs 200
Strategic Insight: A sideways trend with accumulation suggests bullish bias. Traders may consider a “buy-on-dips” strategy between Rs 169–172, with a stop loss below Rs 160.
Investment Takeaway: Where Does IREDA Stand Now?
For short-term traders:
Watch Rs 178 for a breakout.
Use Rs 169 as a stop-loss for long entries.
For long-term investors:
Renewable push in India, government-backed business model, and diversification into solar, wind, and emerging clean segments make IREDA an attractive play—albeit with valuation caution.
Consider accumulating between Rs 165–175 for targets of Rs 200 and Rs 223 over the next 6–12 months.
